AraratBank Joins Armenia's New Greening Initiative: 100 Hectares of New Forest within Three Years

Next year, the first buds of 5,555 trees planted this year with AraratBank’s support will burst open, marking the beginning of the creation of 100 hectares of new forest. Maple, pine, oak, beech, pear and apple trees will enrich the landscape of village Lernajur of the Pambak community in Lori region.

AraratBank, together with the Central Bank of Armenia and commercial banks financed the establishment of a new forest under the frames of a trilateral memorandum recently signed between the Central Bank of Armenia, the Union of Banks of Armenia, and My Forest Armenia NGO.

Around 300,000 trees will be planted within three years.

The cooperation between AraratBank and My Forest Armenia began in 2023.

A year ago, AraratBank was the first to support My Forest Armenia NGO in its initiative to establish a forest named after Charles Aznavour. The Bank became the title sponsor of the charity concert dedicated to the 100th anniversary of the legendary maestro, thus contributing to the creation of 100 hectares of forest area.

Social responsibility in the field of environmental protection is of particular relevance for AraratBank. Remaining a reliable partner of My Forest Armenia, the Bank will further contribute to the afforestation of Armenia, creating a living monument that thrives and expands from year to year.

As a reminder, in 2023 – on the occasion of the 30th anniversary of the Armenian dram - another afforestation project was implemented, when about 50 hectares of new forest were created in the Jrashen and Urasar communities of Lori region in cooperation with the Central Bank of Armenia, the Union of Banks of Armenia, My Forest Armenia NGO, and commercial banks. Around 160,000 trees were planted in Jrashen and Urasar. The planted forest, as a lasting value, symbolized the permanence of the national currency.